Dentons advises GIC on EUR 950 million Maximus portfolio acquisition

Dentons and Kirkland & Ellis represented GIC, Singapore’s sovereign wealth fund, on the acquisition of the Maximus logistics real estate portfolio from Apollo Global Management, a US-based private equity firm. The value of the transaction was approximately EUR 950 million. The deal, which was signed in December 2019, closed on January 31 following the completion of closing conditions and regulatory approvals.

The 1 million square meters pan-European portfolio includes 28 assets in core logistics hubs across Europe, including Germany, Poland, Slovakia, Netherlands, Belgium and Austria. Through the acquisition, GIC plans to expand its European logistics platform, P3 Logistic Parks.

The deal was one of the largest real estate investment deals signed in Europe in 2019 and the largest in Germany.

Evan Lazar, Co-chair of Dentons’ global Real Estate group, led the cross-border Dentons team of more than 50 lawyers on the deal. Real Estate partners Stewart Middleman and Perry Zizzi together with counsel Sona Taghiyeva and Gary Maguire and senior associate Lawrence Florescu helped with the cross-border aspects.

The team also included partner David Zafra Carollo, counsel David Lange, senior associate Alexander Mühleisen, and associates Arndt Dobroschke and Michael Bayliss in Germany; partner Dirk-Jan Gondrie and associate Stephanie Proost in Amsterdam; managing counsel Martin Mendel and associates Tatiana Mergešová and Soňa Kurillová in Bratislava; partner Piotr Staniszewski, counsel Michal Siwek, senior associate Joanna Misztal-Dzitko, and associates Krzysztof Mielech, Karolina Bandzul and Kamil Igielski in Warsaw; as well as numerous other team members.

Dentons has a long-standing relationship with P3 Logistics Parks having assisted the client in growing its portfolio and market position over a number of years.